At September 30, 2026, the breakdown of the Company’s other investments was as follows:


At September 30, 2026	Cost		Unrealized gains		Unrealized losses		Accrued interest		Fair value / carrying value
Private equity securities	$	33,153	$	38,050	$	(6,215)	$	—	$	64,988
Private debt securities	464		—		—		—		464
Total other investments	$	33,617	$	38,050	$	(6,215)	$	—	$	65,452

At December 31, 2025, the breakdown of the Company’s other investments was as follows:


At December 31, 2025	Cost		Unrealized gains		Unrealized losses		Accrued interest		Fair value / carrying value
Private equity securities	$	29,787	$	38,086	$	(6,054)	$	—	$	61,819
Private debt securities	1,585		—		(572)		79		1,092
Total other investments	$	31,372	$	38,086	$	(6,626)	$	79	$	62,911

During the nine months ended September 30, 2026, the Company made further investments in equity securities in privately held entities that do not have readily determinable fair values. In accordance with ASC 321-10-35-2, the Company has elected to apply the measurement alternative to these new investments.

The Company recognized the following adjustments to the carrying values of the private investments and unlisted equity securities, resulting from observable price changes in orderly transactions and impairments:


	Three months ended September 30				Nine months ended September 30
	2026		2025		2026		2025
Upward adjustments (1)	$	2,346	$	3,870	$	3,044	$	5,618
Downward adjustments and impairments(2)	$	(2,321)	$	(16,400)	$	(4,091)	$	(18,007)

(1) The cumulative upward carrying value changes from inception to September 30, 2026, for outstanding holdings, totaled $62.3 million.

(2) The cumulative downward carrying value changes from inception to September 30, 2026, for outstanding holdings, totaled $32.2 million.

The following table summarizes the change in unrealized gains (losses) and the realized gains (losses) for the Company’s other investments, which are included in “Net investment income” in the condensed consolidated statements of operations (see Note 14):


	Three months ended September 30				Nine months ended September 30
	2026		2025		2026		2025
Gross realized gains	$	4,102	$	653	$	4,102	$	658
Gross realized losses	—		—		(1,087)		—
Net realized gains (losses)	$	4,102	$	653	$	3,015	$	658
Change in unrealized gains	356		(12,530)		388		(12,389)
Net realized and unrealized gains (losses) on other investments	$	4,458	$	(11,877)	$	3,403	$	(11,731)